Description

The existing property is a mid terraced period building dating from circa 1870 that contains basement, ground and two upper floors. The property currently comprises a vacant shop on the ground and basement floors with vacant upper parts on first and second floors. The property benefits from planning permission to refurbish the ground floor and basement for use as a shop, to create a two bedroom maisonette at first and second floors and to create a two bed flat at the rear of the shop on the ground floor.

The shop has been pre-sold, you will be offering on the residential element and freehold interest only.

Location

The location offers an array of local shops and businesses, located in the extremely popular London Borough of Hackney. The large open spaces of Hackney Marshes and Victoria Park are a 10-minute walk away. Westfield Stratford City is a 10-minute drive from the property with access to the newly opened Queen Elizabeth Olympic Park.

Transport

The nearest stations are Homerton on the London Overground Line and Stratford International and Underground Stations.

Planning Potential

Planning permission was granted by the London Borough of Hackney Planning Department on the 14th April 2014 under planning reference 2014/0441 for change of use of ground and basement from light industrial use (use class B1c) to an alternate use as either retail (class A1), financial and professional services (class A2), or office (class B1a), change of use of first and second floor from class B1c to a 2-bed flat (class C3), demolition of existing single storey rear extension and erection of a single storey rear extension comprising a 2-bed flat, with associated alterations to the ground floor shopfront to front elevation and formation of two windows in rear elevation.

Buyers Note: The commercial unit has been pre sold. You will need to be provide a new shop front only when undertaking the enabling works. The shop will be sold on a 999 year lease.

VAT

We understand VAT is not applicable

Terms

Offers are invited in excess of £600,000 for the freehold Interest. Please note the property has been placed in the forthcoming McHugh & Co auction on the 14th July 2014 if not sold prior.

Further Information

Copies of the existing and proposed planning drawings and decision notice are available upon request.

Tenure

Freehold